Russian Retail Industry Set to Flourish in Future

Retail is one of the fastest growing industries of the Russian economy. In recent years, Russia has emerged as a leading name among the countries providing most conducive retail environment. In fact, Russia is the second most attractive destination for retail after India. This is mainly due to its rapid economic growth and favorable policy framework, which along with other supporting factors resulted in unprecedented growth level for the country’s retail industry. Retail sales in Russia grew at the CAGR of almost 25% during 2004-2008, says our research report “Russian Retail Industry Forecast to 2013”.

 

The share of food retail sales in total retail sales is likely to decrease due to changing market dynamics and shift in consumer spending pattern towards non-food items. The share of non-food retail sales in total retail market will increase on the back of rising consumer spending on non-food items. As per analysis, consumer’s purchasing power will grow, which will lead to increase in expenditure. Our report provides an extensive analysis on food retailing and non- food retailing segments. The report also covers future outlook for food and non-food retailing segments.

 

With increasing interest of big players in the Russian retail market, the number of supermarkets and hypermarkets is increasing at a fast pace. Most of the supermarkets and discounter chains are growing either by acquiring or leasing space from existing Soviet-style groceries. Another main reason for the rising popularity of convenience stores and discounters is the prosperity of affluent urban population. A significant amount of food is being sold through these formats. Our study has thoroughly discussed different retail market structure in Russia.

 

We have found that Russia is emerging as a fastest growing market for luxury goods. Booming Russian retail industry is creating ample opportunities for the e-payment industry, real estate industry, and advertisement industry. Our report has also conducted an analysis on consumer behavior. It will help clients understand emerging opportunities and gain knowledge on key players of the industry.

For more information visit: http://www.rncos.com/Report/IM219.htm